A Pareto analysis will indicate:
A) Which of several factors is most critical for improved performance.
B) How performance against one standard compares to performance against that standard last year.
C) How performance against one standard compares to best-in-the-industry.
D) How performance against one standard has improved over time.

Question

Quizplus · Accepted Answer

A Pareto analysis, often represented through a Pareto chart, is a statistical technique in quality control and decision-making used for the selection of a limited number of tasks that produce significant overall effect. It applies the Pareto principle, which is the idea that by doing 20% of the work you can generate 80% of the benefit of doing the entire job. Therefore, it helps in identifying the most critical factors or the biggest issues that need addressing for improved performance.

A Pareto Analysis Will Indicate